Resources
Canadian Affordability Calculator
Lenders in Canada qualify you with two debt ratios and the federal stress test. Enter your household numbers to see the price range a lender is likely to approve.
You may afford up to
$557,000
- Mortgage amount
- $491,787
- CMHC insurance
- 3.10% included
- Monthly payment at your rate
- $2,722
- Stress-test qualifying rate
- 6.50%
- Minimum down at this price
- $30,700
Uses a 39% gross debt service (GDS) and 44% total debt service (TDS) limit, half of condo fees, and the qualifying rate of the greater of your rate + 2% or 5.25%. Lenders vary; this is an estimate, not a pre-approval. Speak with a lender or mortgage broker to confirm.
Next steps
Check the payment on a specific home, or see what's for sale in your range across Barrie and Simcoe County.